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AES moves ahead with 2.2GW Son My 2 CCGT plant

Released at: 14:25, 09/11/2019

AES moves ahead with 2.2GW Son My 2 CCGT plant

Photo: AES

MoU signed with MoIT on Binh Thuan power plant.

by Minh Do

Representatives from the Ministry of Industry and Trade (MoIT) and the AES Corporation (AES) signed an MoU on November 8 in Hanoi on the implementation of the Son My 2 combined cycle gas turbine (CCGT) power plant.

The signing ceremony was attended by Prime Minister Nguyen Xuan Phuc, Minister of Industry and Trade Tran Tuan Anh, US Secretary of Commerce Wilbur Ross, and US Ambassador to Vietnam, H.E. Daniel Kritenbrink.

The Son My 2 CCGT power plant has total capacity of 2.2GW and is located in south-central Binh Thuan province. The $1.7 billion plant will have a 20-year contract with the Vietnamese Government.

“LNG will be the key for Vietnam’s growing energy demand, by offering a cleaner, more reliable and more affordable energy solution,” said Mr. Mark Green, AES Eurasia President. “This MoU is a significant milestone towards the development of the Son My 2 power plant, which we believe will help transform Vietnam’s energy sector.”

“The MoU specifies the roles and responsibilities of AES and MoIT and the overall development timeline of the project, enabling AES to move forward with this significant project,” said Mr. David Stone, CEO of AES Vietnam.

Son My 2 complements AES’s investment plans in gas infrastructure in the country, with its previously announced $1.4-billion Son My LNG import terminal, which received approval from the government in August. Together, the plant and the terminal will play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG, as well as meeting the country’s increasing demand for sustainable and affordable electricity.

“The Son My 2 CCGT and the Son My LNG Terminal are excellent examples of the continued partnership between the US and Vietnam,” Mr. Stone said. “We strongly believe that the implementation of these two projects will substantially contribute to bilateral trade and the investment relationship between the two countries, while at the same time creating jobs and supporting Vietnam to move towards a cleaner energy future.”

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